Jayanthi and krish each own a 50 percent general partner interest in the jk partnership. the following information is available regarding the partnership’s 2015 activities:

sales revenue

$500,000

selling expenses

200,000

depreciation expense

30,000

long-term capital gain

9,000

nondeductible expenses

2,000

partnership debts, beginning of the year

100,000

partnership debts, end of the year

120,000

partnership distributions

jayanthi

50,000

krish

50,000

a. calculate the partnership’s ordinary (nonseparately stated) income and indicate which items must be separately stated.

b. calculate jayanthi’s allocable share of partnership items.

c. if jayanthi has no other sources of taxable income, what is her total gross income for 2015?

d. at the beginning of the year, jayanthi’s adjusted tax basis in her partnership interest was $25,000. calculate her ending adjusted tax basis in her partnership interest.